Friday, March 27, 2015
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

City sets plan to dispose of property assets

You may recall in our recent discussions of redevelopment that one element that must be addressed is the disposition of assets owned by the former redevelopment agency.

These assets included housing-related assets such as real estate, as well as affordability covenants and agreements that are considered property or assets.

As permitted by state legislation, the city elected to transfer former redevelopment agency assets related to housing to the Fairfield Housing Authority as the designated “housing successor agency” in 2013. In accepting these assets, the housing authority also accepted significant new responsibilities related to asset management.

State legislation in 2013 addressed the operation of housing successor agencies such as the Fairfield Housing Authority. The legislation established goals and significant new reporting requirements for successor agencies. The legislation also clarified the mechanisms for funding agencies’ operations through revenues derived from the real estate portfolios.

Finally, the legislation also established a five-year time limit for housing successor agencies to either develop or dispose of the properties transferred to them through the redevelopment agency dissolution process. This clock began ticking for the Fairfield Housing Authority on April 2, 2013.

The City Council last Tuesday adopted a plan for managing the housing authority’s property assets: the Real Property Asset Management and Disposal Plan for Housing Authority Owned Properties.

This plan has been prepared to assist Fairfield in ensuring assets are used to satisfy local goals and state legislation. The plan includes an inventory of real property assets, the estimated market value of each property, a recommended marketing method and a timetable for disposition based on needs and goals.

This inventory identifies 17 sites totaling more than 95 acres. Key properties include Senior Manor on Jefferson Street, the former PACE neighborhood northeast of Solano Town Center mall, a site on Santa Monica Street, several small infill housing lots in downtown Fairfield, and a long narrow parcel abutting Highway 12 west of Pennsylvania Avenue. Some of these sites have affordable housing requirements in place and will be retained by the housing authority.

The plan concludes that the housing authority is not in a position to develop, through new construction, affordable housing on its own. This is not a new conclusion; the city of Fairfield and its redevelopment agency have long focused on working with private partners and preserving the existing stock of affordable single-family housing and apartments in the city through housing rehabilitation.

Because the housing authority can better meet its obligation to preserve, improve and increase affordable housing if it liquidates its real property assets and deposits the proceeds in a housing fund for ongoing first-time homebuyer and residential rehabilitation programs, the plan recommends the housing authority sell key sites with strong market value.

The plan recommends several methods to market the properties, such as sealed bids, a request for proposals/qualifications process, direct negotiations with a developer through a letter of interest process, the conventional real estate market, and the sale of suitable properties with entitlements already obtained by the city and in place. To assist in these sales, the city can assist with existing development fee credits. The plan focuses on marketing seven key sites:

  • PACE
  • Ray Venning (the former water treatment site off Woolner Avenue)
  • Santa Monica Street
  • Fairfield/Tabor
  • Great Jones Street
  • Empire Street
  • Highway 12

The plan recommends PACE and Ray Venning as “short-term” high-priority sales that can be completed within 24 months. Santa Monica Street and Fairfield/Tabor are “medium-term” sites, with the downtown sites having medium and long-term potential. Disposition of the downtown sites will await completion of the Downtown Specific Plan that will address community visions and goals for downtown. The Highway 12 site has significant constraints, including noise and environmental issues, which may make sale a longer-term goal.

Over the next three years, city staff may work with the local real estate community, developers and other interested parties able to assist in implementing the recommendations in the plan. This will help the city and the housing authority meet its obligations to improve and preserve affordable housing in the community and could also lead to attractive new developments on currently vacant sites in the heart of the community.

The full plan is available from Bryan Briggs at [email protected] or can be viewed on the city website at www.fairfield.ca.gov.

Economic Notes is an update from Fairfield City Hall written by Brian Miller and Karl Dumas of the Fairfield Planning and Development Department. Reach them at 428-7461 or email at [email protected] or [email protected]

Brian Miller and Karl Dumas

LEAVE A COMMENT

Discussion | 2 comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

  • The MisterApril 20, 2014 - 8:55 am

    And the money from these sales will go to pay off bonds and debt that the local people are on the hook for? Or will our "leaders" blow every possible cent?

    Reply | Report abusive comment
  • Rick WoodApril 21, 2014 - 12:59 am

    I fail to understand the connection between the Ray Venning site, which has been in the City's hands for a very long time, has anything to do with redevelopment. It was a waterworks for generations, I believe as a private venture before the City bought out the company. Certainly it's OK to sell the site, but the funds should all go to the City, not to the state or any other agency. But if that's not correct, maybe the DR can dig a little and enlighten us--me.

    Reply | Report abusive comment
.

Solano News

 
Brasher new president, CEO of Jelly Belly

By Ryan McCarthy | From Page: A1, 2 Comments | Gallery

Rio Vista singer ready for Rancho Cordova show

By Amy Maginnis-Honey | From Page: B1

 
Everyday life inspires model’s music

By Amy Maginnis-Honey | From Page: B1

Hosting gig for comic, birthday party on weekend schedule

By Amy Maginnis-Honey | From Page: B1

 
 
Kids fishing day events return

By Susan Hiland | From Page: A3 | Gallery

 
 
Spring Fling set to return to Rancho Solano

By Susan Hiland | From Page: A3

 
Fairfield police log: March 25, 2015

By Susan Hiland | From Page: A12

 
Suisun police log: March 25, 2015

By Susan Hiland | From Page: A12

.

US / World

Lawyers dispute hoax claim, boyfriend says he was drugged

By The Associated Press | From Page: A1

 
Co-pilot believed to have purposefully crashed plane

By The Associated Press | From Page: A1

 
L.A. river revamp to cost double previous projections

By The Associated Press | From Page: A4

 
Governor awaits $1B drought relief bill

By The Associated Press | From Page: A5

US drops graphic leaflet to possible Islamic State recruits

By The Associated Press | From Page: A5

 
AP Exclusive: Special ops troops using flawed intel software

By The Associated Press | From Page: A5

State to alter ban on where sex offenders can live

By The Associated Press | From Page: A5

 
Report: Teen says mom killed her siblings found in freezer

By The Associated Press | From Page: A7

 
House OKs bipartisan Medicare doctor bill; fate up to Senate

By The Associated Press | From Page: A7

Talent agency wants Matt McConaughey speaking fee secret

By The Associated Press | From Page: A7

 
Grateful Oklahomans salvage belongings after killer storm

By The Associated Press | From Page: A7

Fact Check: Myths in the political roar over Common Core

By The Associated Press | From Page: A7

 
US: Chicago-area cousins planned US terrorist attack

By The Associated Press | From Page: A7

Turmoil in Yemen escalates as Saudi Arabia bombs rebels

By The Associated Press | From Page: A10

 
Russian, American ready for a year in space

By The Associated Press | From Page: A10

Tunisians assure Star Wars sets safe from Islamic State

By The Associated Press | From Page: A10

 
US Thunderbolt II attack planes on training in Poland

By The Associated Press | From Page: A10

Syrian government shells kill 18 in south, activists say

By The Associated Press | From Page: A10

 
.

Living

Today in History: March 27, 2015

By The Associated Press | From Page: A2

 
Community Calendar: March 27, 2015

By Susan Hiland | From Page: A2

Horoscopes: March 27, 2015

By Holiday Mathis | From Page: A9

 
Parents may be enabling son’s drinking and hurting his employment chances

By Kathy Mitchell and Marcy Sugar | From Page: A9

.

Entertainment

Week in preview March 27 to April 3, 2015

By Amy Maginnis-Honey | From Page: B1

 
With ‘Downton Abbey’s coming demise, here are 5 past deaths

By The Associated Press | From Page: B2

Ken Burns unravels the mysteries of cancer in PBS film

By The Associated Press | From Page: B2

 
‘Downton Abbey’ to end after upcoming 6th season

By The Associated Press | From Page: B2

 
Review: Animated alien adventure ‘Home’ lands with a thud

By The Associated Press | From Page: B3 | Gallery

 
Entertainment Calendar: March 27, 2015

By Susan Hiland | From Page: B4

 
TVGrid

By Daily Republic | From Page: B6

 
.

Sports

Prep swimming preview: City teams look to make big splash

By Paul Farmer | From Page: B7 | Gallery

 
Marleau, Niemi lead Sharks past Red Wings 6-4

By The Associated Press | From Page: B7 | Gallery

Warriors can match franchise record for wins at Memphis

By The Associated Press | From Page: B7

 
Fiancee of Aaron Hernandez to be called to testify Friday

By The Associated Press | From Page: B8

Stanford’s VanDerveer, Notre Dame’s McGraw to face off

By The Associated Press | From Page: B8

 
Signups for Friday, March 27, 2015

By Paul Farmer | From Page: B8

Former Germany coach Berti Vogts joins Klinsmann’s US staff

By The Associated Press | From Page: B8

 
Officials OK demolishing Irwindale Speedway for outlet mall

By The Associated Press | From Page: B8

Sharks sign 2 college players

By The Associated Press | From Page: B8

 
Top-seeded Wisconsin hangs to beat North Carolina 79-72

By The Associated Press | From Page: B8

49ers waive OL Jonathan Martin after 1 season with team

By The Associated Press | From Page: B8

 
Notre Dame races by Wichita State 81-70 for Elite Eight spot

By The Associated Press | From Page: B8

Kentucky overwhelms West Virginia 78-39 in NCAA Sweet 16

By The Associated Press | From Page: B8

 
San Diego city, county join forces on bid to keep NFL

By The Associated Press | From Page: B8

Labor, developers reach deal on proposed Inglewood stadium

By The Associated Press | From Page: B8

 
Italians will pull out of America’s Cup if boats downsized

By The Associated Press | From Page: B8

This date in sports history for March 27, 2015

By The Associated Press | From Page: B9

 
Mirim Lee leads LPGA Tour’s Kia Classic

By The Associated Press | From Page: B10

 
Charley Hoffman takes PGA lead in wind-swept Texas Open

By The Associated Press | From Page: B10

.

Business

Range Rover offers an exclusivity that’s rich with irony

By The Washington Post | From Page: C1

 
Oil prices jump almost 5 percent as tensions mount in Yemen

By The Associated Press | From Page: B11

New Samsung, HTC phones coming April 10 in US

By The Associated Press | From Page: B11

 
Google’s new CFO gets $70M for defecting from Morgan Stanley

By The Associated Press | From Page: B11

Bankruptcy hearing could decide fate of RadioShack

By The Associated Press | From Page: B11

 
Microsoft wants US suppliers to give employees paid time off

By The Associated Press | From Page: B11

Lawmakers unhappy with new fracking rules

By The Associated Press | From Page: B11 | Gallery

 
Authorities go after crooked car deals in national crackdown

By The Associated Press | From Page: B11

.

Obituaries

Helen Kalis

By Nancy Green | From Page: A4

 
Carol A. Vose

By Nancy Green | From Page: A4

.

Comics

Wizard of Id

By Daily Republic Syndicated Content | From Page: A8

 
Garfield

By Daily Republic Syndicated Content | From Page: A8

Zits

By Daily Republic Syndicated Content | From Page: A8

 
Rose is Rose

By Daily Republic Syndicated Content | From Page: A8

Get Fuzzy

By Daily Republic Syndicated Content | From Page: A8

 
For Better or Worse

By Daily Republic Syndicated Content | From Page: A8

Sally Forth

By Daily Republic Syndicated Content | From Page: A8

 
Beetle Bailey

By Daily Republic Syndicated Content | From Page: A8

Baby Blues

By Daily Republic Syndicated Content | From Page: A8

 
Blondie

By Daily Republic Syndicated Content | From Page: A8

Frank and Ernest

By Daily Republic Syndicated Content | From Page: A8

 
Pickles

By Daily Republic Syndicated Content | From Page: A8

Dilbert

By Daily Republic Syndicated Content | From Page: A8

 
Baldo

By Daily Republic Syndicated Content | From Page: A8

B.C.

By Daily Republic Syndicated Content | From Page: A8

 
Peanuts

By Daily Republic Syndicated Content | From Page: A8

Crossword

By Daily Republic Syndicated Content | From Page: A9

 
Cryptoquote

By Daily Republic Syndicated Content | From Page: A9

Sudoku

By Daily Republic Syndicated Content | From Page: A9

 
Bridge

By Daily Republic Syndicated Content | From Page: A9

Word Sleuth

By Daily Republic Syndicated Content | From Page: A9